ING reports this on the basis of its Digital Monitor, for which 1500 Dutch people are regularly questioned about their payment behaviour. Contactless payment is now preferred by 43% of respondents across all age groups.
Young people relatively often use their mobile phone instead of a debit card when making contactless payments. The older the respondents are, the fewer people indicate that they prefer contactless payment. Yet 39% of people aged 65 and older also do the same. The use of so-called wearables, such as a smartwatch or a ring, which can be used to pay at the checkout.
Cash dispenser
The increase in the popularity of contactless payments is partly caused by the corona pandemic, ING indicates. For example, the payment limit was increased for contactless payments without a PIN code. It was also not recommended to pay with cash during the pandemic. Among ING customers, the number of people who pay contactless is even higher at 69%.
According to 44% of the respondents, the reasons for not paying with cash are mainly because money must first be withdrawn from the ATM or because other payment methods provide more convenience (36%). Despite the decline in the use of cash, the majority of the Dutch remain convinced that cash will always be necessary (60%).
The most common reason for using cash is that it always works.